Tag: Financing

By on August 31, 2015

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“Honey? I just got into an accident!” she said.

My body experienced an instant adrenaline rush as my mind wandered through the worst “what if?” possibility of that moment, something like the image above.

My wife… Hospital… Pain… Medical bills… The other driver…

“Is everyone okay?” I asked in reply.

(Read More…)

By on June 10, 2015

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You have worked hard to save the $20,000 you need to purchase the car of your dreams. You’re ready to step into the dealership, walk straight to the manager in the back, plunk down those greenbacks, and say, “I have cash! Give me your best price!”

This may have worked in the days before electronic banking and factory rebates, but paying cash today will likely cost you more.

(Read More…)

By on August 19, 2014

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In this year’s red hot new car market, the Honda Accord and CR-V have apparently captured the top spot in both new car and SUV retail sales through the first half of 2014, according to Polk registration data. But John Mendel, Honda’s head of sales, had some pointed words for the industry as a whole, and the state of the American auto market.

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By on August 19, 2014

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Remember when Saab’s new parent company was close to being taken to court and forced to declare bankruptcy by one of its suppliers? New information may have helped changed course.

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By on March 24, 2014

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One year ago, we reported on the alarming trend of 97 month loans for new car sales. It turns out that these have now been supplanted by a substantially longer term. Say hello to the 144 month loan.

(Read More…)

By on February 25, 2014
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6:30 P.M. and three more cars just pulled up to my place… on a Monday…

Have I just bought a McDonald’s franchise? Not quite. This is the start of what we call “tax season” in the used car business.

A time when tens of millions of Americans who live paycheck to paycheck get a nice four figure lump sum from Uncle Sam and his favorite sub-prime debt dealers.

(Read More…)

By on January 10, 2014

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I just got a job that involves a fair amount of driving and I am looking to spend about 11-13k on a car that is fun to drive but at the same time practical and reliable.

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By on December 30, 2013

DSC_0405Haven’t you heard the exciting news? There’s a new Corvette out this year! Cadillac is building convertibles again! The VW Vanagon has a water-cooled engine! Oldsmobile is offering some kind of voice warning doohickey and the FIRENZA HAS NEW TRIM OPTIONS!1!!11! All with interest rates hovering just under 13%! It’s 1984, and I just can’t wait to check out the goods at the auto show.

(Read More…)

By on October 14, 2013

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Months after TTAC started to relentlessly bleat about the glut of money flowing into the auto loan sector, the mainstream media is finally taking notice. Automotive News is finally expressing some worry over the factors that we’ve been discussing for some time: car loan terms are getting longer (to help keep payments low), subprime lending is increasing and an expected rise in interest rates could put an end to the new car market’s exuberant performance.

(Read More…)

By on September 25, 2013

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While the engine behind the exceptional growth in new car sales is a hotly debated topic, leasing is proving to be an undeniable catalyst behind this year’s impressive new car sales numbers. Through June of this year, leasing accounted for 25.7 percent of new car sales, versus 22.2 percent in 2012.  A decade ago, that number stood at just 17.5 percent.

(Read More…)

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